I recieved a recorded call from AE on Jan 11 to inform me that I needed to contact them immediately! I called, only to find out that they had lowered the credit limit on my AE Platinum card (which I pay a tidy some to have the "privilege" of keeping in my wallet) significantly. My response to he lady on the other end was, "well they raise it for no reason, and I guess now they can lower it for no reason" and the reponse was that "oh no sir, there are reasons, one of which is that there are derogatory comments on your credit report". Needless to say I was in a bit of a panic after hearing this and I immediately got on line to see if my identity had been stolen or something. After visiting the three credit bureaus and pulling my credit report, I found that there is absolutely nothing wrong with my credit and that my FICO score is still in the low 800's. Oddly enough, after signing into the AE website, it turns out that my credit limit was lowered to just about $200 over what my balance is. I generally do not carry a balance on my personal AE but have had a small one for the past 3 or 4 months which I have been paying down quickly.

I recieved another recorded call today, Jan 12, from AE to inform me that my AE Costco Business card had also recieved a cut in the credit limit. Amazingly the credit on this card too was cut to approximately $200 above the small balance. I use this card for business and generally do not carry a balance on it.

I guess I dont mind if for business reasons AE has decided to reduce the amount of credit they are offering. What bothers me is to do it in this way and to then cite reasons which are not true is just plain wrong. I was somewhat comforted to google this website and find out that I am not alone.